West U Area Gas Prices Down, But Not By Much
Average retail gasoline prices in the West U area have fallen 0.4 cents per gallon in the past week, averaging $3.63 yesterday.
The local price compares with a national average that increased 2.3 cents in the last week to $3.86 per gallon, according to gasoline price website HoustonGasPrices.com.
GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said he expects prices to drop in the near term, but also believes 2012 will end with the highest annual gas prices on record.
“The national average continues to hover near its higher ever September level,” DeHaan said. “As we push deeper into September, the more optimistic I am that these high prices will begin to come down slightly, but with the recently announced QE3, I’m a bit concerned that prices won’t moderate as much as previously expected as the dollar weakens, leading me to believe 2012 will have featured the highest yearly average ever.”
Including the change in gas prices in West U during the past week, prices yesterday were 27.3 cents per gallon higher than the same day one year ago and are 10.3 cents per gallon higher than a month ago.
The national average has increased 15.8 cents per gallon during the last month and stands 24.9 cents per gallon higher than this day one year ago.